Zacks Research Upgrades Brookfield Asset Management (NYSE:BAM) to Strong-Buy

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

BAM has been the subject of several other research reports. Loop Capital set a $60.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating for the company in a report on Monday, November 10th. The Goldman Sachs Group reduced their target price on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. UBS Group set a $52.00 target price on Brookfield Asset Management in a research report on Friday. Finally, Wall Street Zen raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.65.

Brookfield Asset Management Stock Performance

Brookfield Asset Management stock opened at $50.60 on Thursday. Brookfield Asset Management has a 52 week low of $41.78 and a 52 week high of $64.10. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $82.88 billion, a P/E ratio of 33.29, a price-to-earnings-growth ratio of 1.82 and a beta of 1.40. The stock has a 50 day moving average of $52.10 and a 200-day moving average of $54.91.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.40 billion. Brookfield Asset Management had a net margin of 51.59% and a return on equity of 29.67%. On average, analysts expect that Brookfield Asset Management will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd lifted its stake in Brookfield Asset Management by 1,270.6% in the second quarter. Caitong International Asset Management Co. Ltd now owns 466 shares of the financial services provider’s stock valued at $26,000 after buying an additional 432 shares during the last quarter. Zions Bancorporation National Association UT grew its position in shares of Brookfield Asset Management by 241.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 488 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 345 shares during the last quarter. Manchester Capital Management LLC lifted its position in Brookfield Asset Management by 559.5% in the 2nd quarter. Manchester Capital Management LLC now owns 521 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 442 shares during the last quarter. LOM Asset Management Ltd acquired a new position in Brookfield Asset Management during the 4th quarter valued at about $31,000. Finally, Sagard Holdings Management Inc. acquired a new position in Brookfield Asset Management during the 2nd quarter valued at about $39,000. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.